Here's one of those cute little lingerie bags from the roaring 20's age.  The rayon drawstring bag might have held an assortment of a lady's personal items, such as hosiery.  A style of gathered puckers gives this bag irresistible appeal.  A bunch of fabric stamens are secured at the bottom of the bag for accent.  The green receptacle part of the bud is made of a hard material - possibly an early plastic or composition.  As you will notice in the close up photo, one of these receptacles does have a split.  It is the only flaw I found to the lovely bag.  Green corded drawstings with a group of four "rose buds" attached at the end further embellishes the bag.    The lingerie bag appears to be unused. 

Size:  13-1/2" long x 40" circumference when completely opened.